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Asia Tracks Wall St Rally As US Election Comes to a Head

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Key Points

  • Asian markets extended gains Tuesday as Americans prepared to vote in one of the most keenly watched elections ever, with traders betting on a Democratic sweep of the White House and Congress that would likely see a huge new economic stimulus.
  • Joe Biden has maintained his healthy lead over Donald Trump in national polls for weeks as the president is buffeted by his handling of the coronavirus, which is seeing a resurgence across the country.
  • Hong Kong rose two percent, having jumped more than one percent Monday, while Sydney piled on 1.9 percent after the Australian central bank slashed interest rates to a record low and ramped up its bond-buying scheme as it looks to kickstart an economic recovery.
  • Visit The Financial Today’s homepage for more stories.

HONG KONG — Asian markets extended gains Tuesday as Americans prepared to vote in one of the most keenly watched elections ever, with traders betting on a Democratic sweep of the White House and Congress that would likely see a huge new economic stimulus. 

Joe Biden has maintained his healthy lead over Donald Trump in national polls for weeks as the president is buffeted by his handling of the coronavirus, which is seeing a resurgence across the country.

A Democratic takeover of Capitol Hill “is the key to unlocking Congress’ ability to deliver significant fiscal stimulus and benefit the US and global markets at a time of need,” said Axi’s Stephen Innes.

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